Xylem acquires Danish flow measurement company MJK
Xylem Inc. (NYSE: XYL) has acquired MJK Automation A/S, a privately owned company headquartered in Naerum, Denmark for approximately $12.3 million (DKK 75 million)...
WHITE PLAINS, NY, July 13, 2012 -- Xylem Inc. (NYSE: XYL), a leading global water technology company focused on addressing the world's most challenging water issues, announced it has acquired MJK Automation A/S, a privately owned company headquartered in Naerum, Denmark for approximately $12.3 million (DKK 75 million). The actual terms of the transaction were not disclosed.
With operations in Denmark, Norway, the Netherlands, the United States and Singapore, MJK is a leading manufacturer of flow and level sensors, and measurement and control technology for water and wastewater applications. MJK generated revenue of approximately $10.7 million (DKK 65 million) for the fiscal year ended June 30, 2012.
"The addition of MJK to Xylem's offerings supports our strategy to acquire attractive businesses that complement our existing global analytics portfolio," said Gretchen McClain, Xylem's president and chief executive officer. "Along with our core pump expertise, the controller technology of MJK will allow us to expand Xylem's wastewater and surface water applications, bringing together our transport and test capabilities."
"MJK's expertise in water and wastewater applications enhances our analytical instrumentation platform by allowing us to add physical parameters to our wastewater offering, as well as providing energy-saving controllers for field applications," said Chris McIntire, president of Xylem's Analytics business.
MJK products are used in water, wastewater, environmental and irrigation applications where critical measurements are required in pipes, wells, open channels and canals. Sensor technologies include ultrasonic, hydrostatic and electromagnetic plus Remote Telemetry Units (RTUs) for monitoring and control units ideally suited for field, online and lift station applications.
About Xylem Analytics
Xylem's analytics businesses are leading manufacturers of premium field, portable, laboratory and online analytical instruments used in water and wastewater, environmental, medical, food and beverage and life science applications. The company's meters, sensors, analyzers and related consumables are used every day by thousands of end-users worldwide to analyze and control quality in countless industrial applications where precise measurement is required. Xylem's analytics business has been created over the past two years with the acquisitions of OI Analytical and YSI to their core businesses of WTW, SI Analytics, Aanderaa Data Instruments (AADI), Global Water Instrumentation, ebro and Bellingham & Stanley. www.xylemanalytics.com
Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world's most challenging water and wastewater problems. Launched in 2011 from the spinoff of the water-related businesses of ITT Corporation, Xylem is headquartered in White Plains, N.Y., with 2011 revenues of $3.8 billion and 12,500 employees worldwide.
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all -- that which occurs in nature. For more information, please visit us at www.xyleminc.com.